DNP Select Income Fund

What DNP Select Income Fund does

DNP Select Income Fund Inc. is a diversified, closed-end management investment company listed on the New York Stock Exchange under ticker DNP, first offered to the public in January 1987. The fund's primary investment objectives are current income and long-term growth of income, with capital appreciation as a secondary objective. Under its stated investment policy, more than 65% of total assets are invested in securities of public utility companies engaged in the production, transmission, or distribution of electric energy, gas, or telephone services. As of January 31, 2026, portfolio composition was approximately 79% common stock, 16% bonds and cash, and 5% MLP investments, across Electric, Gas & Water (66%), Oil & Gas Storage/Transportation/Production (23%), and Communications (11%) sectors. Top holdings include Xcel Energy, Sempra Energy, CenterPoint Energy, Entergy Corp, and Ameren Corp, each representing 2.4–2.8% of the portfolio. The fund trades at a premium to NAV ($11.09 market price vs. $10.10 NAV as of July 2026) and distributes $0.065 per share monthly under a Managed Distribution Plan.

The fund is advised by Duff & Phelps Investment Management Co., a Chicago-based investment manager that has specialized in listed real assets since its founding in 1932 by William Duff and George Phelps, and which has been a wholly-owned subsidiary of Virtus Investment Partners since 1995. Duff & Phelps employs a team of investment professionals and applies fundamental research and security analysis — emphasizing management capability and asset quality — to identify attractive opportunities in listed utilities, infrastructure, and real estate securities. Beyond DNP, Duff & Phelps manages two additional closed-end funds (Duff & Phelps Utility and Infrastructure Fund Inc. and DTF Tax-Free Income 2028 Term Fund Inc.), open-end mutual funds and ETFs distributed via Virtus Investment Partners, institutional strategies across real estate, infrastructure, energy infrastructure, clean energy, and water, Collective Investment Trusts distributed through SEI, and managed account strategies.

Revenue is generated through investment advisory fees that the fund pays Duff & Phelps based on assets under management; specific fee rates are disclosed in SEC filings (registration statement, annual report) but not publicly on the fund's website. Distribution is multi-channel: NYSE listing enables retail and institutional purchase through any brokerage account; Computershare administers a Dividend Reinvestment and Cash Purchase Plan (DRIP); and Duff & Phelps' institutional sales team and client relationship managers market the fund and broader strategies directly to public funds, foundations, endowments, corporations, municipalities, multi-employer plans, nuclear decommissioning trusts, and sub-advisory clients. Shareholder communications are conducted primarily through SEC filings (annual/semi-annual reports, proxy statements, Section 19(a) notices) and press releases.

Name

DNP Select Income Fund

Legal name

DNP Select Income Fund Inc.

Website

https://dpimc.com

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

51–100 employees

Short description

DNP Select Income Fund Inc. is a diversified NYSE-listed closed-end fund (ticker DNP) that invests primarily in U.S. public utilities equities and fixed income, managed by Duff & Phelps Investment Management Co. for institutional and individual investors seeking current income.

Ownership category

akta.pro rank

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Investment Management Fees: As a closed-end management investment company, DNP Select Income Fund generates revenue through investment management fees charged to shareholders for portfolio management services. The fund is managed by Duff & Phelps Investment Management Co., which receives advisory fees for managing the fund's assets.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

DNP Select Income Fund Inc. is a diversified, closed-end management investment company that invests primarily in a diversified portfolio of equity and fixed income securities of public utility companies. Under normal conditions, more than 65% of total assets are held in public utility companies engaged in the production, transmission, or distribution of electric energy, gas, or telephone services. Its primary investment objectives are current income and long-term growth of income, with capital appreciation as a secondary objective, and it operates a Managed Distribution Plan with regular monthly distributions alongside a Dividend Reinvestment Plan.

Product overview

DNP Select Income Fund Inc. is a closed-end management investment company traded on the NYSE (ticker: DNP), first offered in January 1987, managed by Duff & Phelps Investment Management Co. The fund's primary objectives are current income and long-term growth of income, investing primarily in a diversified portfolio of equity and fixed income securities of companies in the public utilities industry. As of January 31, 2026, its portfolio is comprised of approximately 79% common stock, 16% bonds and cash, and 5% MLP investments, across Electric, Gas & Water (66%), Oil & Gas Storage/Transportation/Production (23%), and Communications (11%) sectors. The fund offers a Dividend Reinvestment Plan and Managed Distribution Plan. Duff & Phelps, the investment adviser, manages a broader platform of listed real asset investment strategies including two other closed-end funds (DTF Tax-Free Income 2028 Term Fund Inc. and Duff & Phelps Utility and Infrastructure Fund Inc.), open-end mutual funds and ETFs via Virtus Investment Partners, institutional strategies across real estate, infrastructure, energy, clean energy, water and multi-strategy solutions, Collective Investment Trusts via SEI, and managed account strategies — all built around the firm's core expertise in listed real assets since 1932.

Differentiator

Problem solved

Functional benefit

Products and services

• DNP Select Income Fund Inc. Diversified, closed-end management investment company listed on the NYSE (ticker: DNP) that invests primarily in equity and fixed income securities of public utilities companies. Primary investment objectives are current income and long-term growth of income, with capital appreciation secondary; more than 65% of total assets are invested in public utility companies engaged in production, transmission, or distribution of electric energy, gas, or telephone services. Targets institutional investors and individual investors through public markets.
• Duff & Phelps Utility and Infrastructure Fund Inc. (DPG) Non-diversified, closed-end investment company initially offered in July 2011, seeking total return through high current income with emphasis on tax-advantaged dividend income, growth in current income, and capital appreciation. Invests primarily in equities of domestic and foreign utilities and infrastructure providers.
• DTF Tax-Free Income 2028 Term Fund Inc. Diversified closed-end management investment company organized in November 1991, with a limited term ending March 1, 2028. Its investment objective is current income exempt from regular federal income tax, consistent with the preservation of capital; invests at least 80% of total assets in a diversified portfolio of investment-grade tax-exempt obligations.
• Global Listed Infrastructure Institutional Strategy Institutional strategy investing in listed infrastructure companies (utilities, transportation, communications, energy) in developed markets, managed by Duff & Phelps.
• U.S. Real Estate Institutional Strategy Institutional strategy investing in U.S. listed REIT securities, managed by Duff & Phelps since 1995, focused on high-quality listed owners and operators.
• Global Real Estate Institutional Strategy Institutional strategy investing in global listed real estate securities, managed by Duff & Phelps.
• Non-Core Real Estate Opportunities Strategy Bespoke institutional allocation actively investing in non-core real estate companies including data centers, healthcare, and logistics, designed to complement private real estate allocations.
• Energy Infrastructure Institutional Strategy Institutional strategy investing in master limited partnerships (MLPs) and midstream energy assets, focused on the distribution portion of the energy chain with long-term concentrated portfolios.
• Global Clean Energy Institutional Strategy Institutional strategy providing diversified exposure to clean energy holdings including clean energy producers, technology and equipment providers, and transmission and distribution companies.
• Water Institutional Strategy Institutional strategy investing in listed water and water-related companies addressing global water scarcity and quality issues, covering water supply, water quality, and water efficiency.
• Multi-Strategy Solutions Customized portfolio solutions for institutional clients, including Nuclear Decommissioning Trusts (NDT) management, multi-asset portfolios blending strategies, and outsourced portfolio management for small to mid-sized plans.
• Collective Investment Trusts (CITs) Collective Investment Trusts offered through SEI including U.S. REIT CIT, Global Real Estate Securities CIT, and Global Listed Infrastructure CIT, utilizing the same underlying investment strategies as institutional products.
• Managed Account Strategies Investment strategies available through retail managed account platforms including U.S. REIT and Select MLP & Energy, offering transparency and customization for individual investor needs.
• Virtus Duff & Phelps Real Estate Securities Fund Open-end mutual fund investing in listed real estate securities, managed by Duff & Phelps as part of Virtus Investment Partners.
• Virtus Duff & Phelps Global Real Estate Securities Fund Open-end mutual fund investing in global listed real estate securities, managed by Duff & Phelps as part of Virtus Investment Partners.
• Virtus Duff & Phelps Global Infrastructure Fund Open-end mutual fund investing in global listed infrastructure securities, managed by Duff & Phelps as part of Virtus Investment Partners.
• Virtus Duff & Phelps Select MLP and Energy Fund Open-end mutual fund investing in master limited partnerships and energy infrastructure companies, managed by Duff & Phelps as part of Virtus Investment Partners.
• Virtus Duff & Phelps Water Fund Open-end mutual fund investing in listed water and water-related companies, managed by Duff & Phelps as part of Virtus Investment Partners.
• Virtus Duff & Phelps Real Asset Fund Open-end multi-asset fund managed by Duff & Phelps as part of Virtus Investment Partners.
• Virtus Duff & Phelps Clean Energy ETF Exchange-traded fund investing in clean energy securities, managed by Duff & Phelps as part of Virtus Investment Partners.
• Virtus Duff & Phelps Real Estate Income ETF Exchange-traded fund investing in real estate income securities, managed by Duff & Phelps as part of Virtus Investment Partners.

Quantifiable outcome

• Monthly dividend distribution of $0.065 per share maintained consistently
• +1 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• ComputersharecoreOthersComputershare serves as the Transfer Agent and Dividend Disbursing Agent for DNP Select Income Fund, handling account information, address changes, certificate transfers, and dividend distributions for shareholders. Shareholders can access account information through Computershare's Investor Centre.
• The Bank of New York MelloncoreOthersThe Bank of New York Mellon serves as the Custodian for DNP Select Income Fund, holding the fund's assets at its office at One Wall Street, New York, NY 10286.
• Virtus Fund Services, LLCcoreOthersVirtus Fund Services, LLC, a subsidiary of Virtus Investment Partners, serves as the Administrator for DNP Select Income Fund, located at 1 Financial Plaza, Hartford, CT 06103.

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Cohen & Steers: Specialist asset manager focused on listed real assets (real estate, infrastructure, and natural resources), operating a suite of closed-end, open-end, and SMA strategies that compete head-to-head with Duff & Phelps in the same institutional and retail channels.
• Virtus Investment Partners: Multi-boutique investment management platform and parent of Duff & Phelps since 1995; offers DNP distribution and operational scale through a broad open-end, closed-end, and ETF product suite that competes for the same income-oriented allocations.

Direct peers

• Gabelli Utility Trust (GUT): Diversified closed-end fund that invests primarily in U.S. and foreign utility companies, offering a directly comparable utility income strategy with similar NYSE listing, distribution focus, and concentration in regulated electric/gas/water utilities.
• Tortoise MLP & Energy Infrastructure (NTG): Closed-end fund focused on midstream energy and MLP infrastructure, overlapping with DNP's ~5% MLP and ~23% oil & gas storage/transportation exposure and competing for the same energy-income investor demand.
• BlackRock Utilities, Infrastructure & Power Opportunities Trust: Closed-end fund investing in U.S. and non-U.S. utilities, infrastructure, and power-related companies, mirroring DNP's mandate while competing at a much larger AUM scale from a global asset manager.
• Duff & Phelps Utility and Infrastructure Fund Inc. (DPG): Non-diversified closed-end fund managed by Duff & Phelps since 2011, also investing in utilities and infrastructure equities with an income objective, providing a sister-product comparison point that competes for the same investor base.
• Cohen & Steers Infrastructure Fund (UTF): Closed-end fund focused on listed infrastructure companies globally, including utilities, with an income and total-return objective similar to DNP and competing for institutional and retail income allocations.
• Nuveen Real Asset Income and Growth Fund: Closed-end fund providing diversified exposure to listed real assets including infrastructure, utilities, REITs, and natural resources — directly comparable to DNP's income-oriented real-asset mandate at a larger asset manager scale.
• Reaves Utility Income Fund (UTG): Closed-end management investment company focused on dividend-paying utility and infrastructure equities, with a similar income-oriented mandate, monthly distribution policy, and small specialized manager profile as DNP Select Income Fund.
• DTF Tax-Free Income 2028 Term Fund Inc. Diversified closed-end fund also advised by Duff & Phelps Investment Management Co., providing a sibling fund managed by the same adviser that competes for retail fixed-income allocations within the Virtus platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/duffandphelpsim
• LinkedInlinkedin.com/company/duff-&-phelps-investment-management-co.

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DNP Select Income Fund